Latin America and the Caribbean: Industrial Stearic Acid Market 2024

Industrial Stearic Acid Market Size in Latin America and the Caribbean

In 2021, the Latin American industrial stearic acid market increased by 16% to $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption, however, showed a abrupt descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Industrial Stearic Acid Production in Latin America and the Caribbean

In value terms, industrial stearic acid production rose modestly to $X in 2021 estimated in export price. Overall, production, however, showed a drastic downturn. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Industrial Stearic Acid Exports

Exports in Latin America and the Caribbean

In 2021, industrial stearic acid exports in Latin America and the Caribbean soared to X tons, growing by 24% on 2020 figures. Total exports indicated strong growth from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -12.1% against 2017 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 51% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial stearic acid exports skyrocketed to $X in 2021. Overall, exports posted strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Argentina (X tons) was the main exporter of industrial stearic acid, mixing up 66% of total exports. Brazil (X tons) took the second position in the ranking, distantly followed by Honduras (X tons). All these countries together took near 30% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to industrial stearic acid exports from Argentina stood at +1.8%. At the same time, Brazil (+29.3%) and Honduras (+11.3%) displayed positive paces of growth. Moreover, Brazil emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +29.3% from 2012-2021. While the share of Brazil (+17 p.p.) and Honduras (+4.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Argentina (-21 p.p.) displayed negative dynamics.

In value terms, Argentina ($X) remains the largest industrial stearic acid supplier in Latin America and the Caribbean, comprising 70% of total exports. The second position in the ranking was held by Brazil ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Argentina totaled +2.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (+30.9% per year) and Honduras (+6.2% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, rising by 65% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Brazil ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+1.2%), while the other leaders experienced mixed trends in the export price figures.

Industrial Stearic Acid Imports

Imports in Latin America and the Caribbean

In 2021, the amount of industrial stearic acid imported in Latin America and the Caribbean soared to X tons, rising by 45% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial stearic acid imports skyrocketed to $X in 2021. Over the period under review, imports recorded a pronounced increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Mexico (X tons) and Brazil (X tons) prevails in imports structure, together creating 75% of total imports. Colombia (X tons) held the next position in the ranking, followed by Peru (X tons) and Argentina (X tons). All these countries together held near 20% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Peru (with a CAGR of +9.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest industrial stearic acid importing markets in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Colombia ($X), together accounting for 85% of total imports. Argentina and Peru lagged somewhat behind, together accounting for a further 9.7%.

Among the main importing countries, Argentina, with a CAGR of +10.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, surging by 34% against the previous year. Overall, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Argentina ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+1.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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